Mercedes Aktiengesellschaft Holding

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Collective share, 2000 × 50 DM of Mercedes-Automobil-Holding AG from January 1976

The Mercedes Aktiengesellschaft Holding (at inception: Mercedes-Automobil Holding AG ) was founded in 1975, an intermediate holding company to acquire a stake of 25.23% stake in Daimler-Benz AG of Friedrich Karl Flick . The company was dissolved again after 18 years by merging with Daimler-Benz AG in 1993.

history

Friedrich Flick had already acquired a large block of shares in Daimler-Benz in the early 1950s . With the help of Deutsche Bank , this resulted in a stake in a box , whereby Flick undertook in writing to involve the bank again in the event of a sale. His son Friedrich Karl Flick had paid off the other heirs in the early 1970s. After the Quandt family had sold their Daimler-Benz stake of 14% to the sheikdom of Kuwait in 1974 , Flick made contact with Iran and at the beginning of 1975 confronted Deutsche Bank with the intention to sell the entire package of 39% worth around 3 Billion  DM . In order to avoid a majorization by a foreign shareholder and thus a significant loss of one's own influence from its own block of shares of 28%, Deutsche Bank agreed to take over a package of around 29%.

For its part, Deutsche Bank was looking for a way to place this extensive package on the market. She sold a part of the shares of approx. 4% directly in the market. For the remaining shares of 25.23%, the Mercedes-Automobil-Holding AG was formed as an intermediary company, in which several intermediary companies were involved in several stages. In this way, the bank was able to place the package worth around DM 1.8 billion in pieces with a group of institutional investors. The construction including the tax-free transfer of the capital gain at Flick according to § 6b  EStG had been expressly approved by the Ministry of Finance (State Secretary Rainer Offergeld ). The number of Mercedes shares corresponded 1: 1 to the number of Daimler-Benz shares held by the holding company. Nevertheless, the share price was regularly 10–20% below that of Daimler-Benz.

After Daimler-Benz had also become involved in areas outside of the automotive industry with AEG and MBB , the company was renamed Mercedes Aktiengesellschaft Holding in the 1980s. The construction was dissolved in 1993 when the Mercedes Holding was merged with Daimler-Benz AG. In the course of the merger, there was public excitement because the then chairman of IG Metall , Franz Steinkühler , as a supervisory board member of Daimler-Benz , had made a speculative profit of DM 160,000 shortly before the merger by purchasing Mercedes shares . The merger was registered on March 15, 1994.

literature

Individual evidence

  1. ↑ Presentation of the process according to Hans-Otto Eglau : Wie Gott in Frankfurt. Deutsche Bank and German Industry . Heyne, Munich 1989, pp. 98-103